Entergy unit replaces Grand Gulf availability agreement, effective Oct. 1, 2025
System Energy Resources, a wholly owned Entergy subsidiary, terminated its 1974 Availability Agreement and three related assignments that secured certain bonds, effective October 1, 2025. It then entered a new 2025 Availability Agreement with three affiliate operating companies, with allocation percentages changed and Entergy Louisiana removed from the Grand Gulf power sales agreement. The filing states that the bonds are no longer entitled to the prior security and that the new agreement provides similar cash-resource assurances.
Key points
- Availability Agreement and three assignments terminated effective Oct. 1, 2025; the filing says all termination conditions were satisfied.
- New 2025 Availability Agreement allocates obligations to Entergy Arkansas (24.19%), Entergy Mississippi (56.38%) and Entergy New Orleans (19.43%).
- Entergy Louisiana's share of Grand Gulf capacity and energy was divested to Entergy Mississippi under the 2025 UPSA, which FERC approved.
- Bonds affected include $83,695,000 of MBFC Bonds, Series 2021, and First Mortgage Bonds due 2044, 2028 and 2034.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:42 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 03, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.